Caroline Hyde

one, two, three years.

Andoril actually is a drone that we were showing off in Japan recently that's made with 100% Japanese parts.

Japan is another nation that can build their own drones.

They don't need DJI, but it's hard for that to make economic sense when China's allowed to flood the market.

That was Unreal founder Palmer Luckey.

For more on the U.S.

relationship with China and the national security concerns behind semiconductors, we're joined by Jacob Helberg, U.S.

State Department Undersecretary for Economic Affairs, but also the founder of the Hill and Valley Forum, which we were able to attend last year.

There was something in the China context which we didn't get to with Palmer, which was a piece of recent news with President Xi

reiterating, I would say, a long stated goal of reunification with Taiwan.

Now, the reason I want to start there, Jacob, is in your efforts with Paxilica, the scenario that everyone is trying to plan for Taiwan and access to capacity in the semiconductor side being shut off, if that scenario were to unfold, starting 2026, could you just bring us your latest thinking on that, please?

A lot of your anxiety, and you've been at this for a very long time, trying to warn the United States and those in positions of power, and now in the power that you have yourself, that we shouldn't be so opposed to China in the way that we have been.

Now, from a national security perspective, what do you think of the latest that maybe H200s go into China?

That by this quarter, they might sign off for Alibaba, for BYD to be able to access NVIDIA's chips?

On that market share bucket, you know, the concern that many in D.C.

outlined to us is if we don't export to the Gulf, China will.

Is that the right way to think about it for America?

They did dominate.

NVIDIA had 95% of the market.

And now Jensen Perse has zero.